Royce & Associates LP Reduces Position in RBC Bearings Incorporated (NYSE:RBC)

Royce & Associates LP lessened its holdings in shares of RBC Bearings Incorporated (NYSE:RBC) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,797 shares of the industrial products company’s stock after selling 14,307 shares during the period. Royce & Associates LP owned about 0.45% of RBC Bearings worth $41,819,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jane Street Group LLC boosted its position in shares of RBC Bearings by 18.5% during the third quarter. Jane Street Group LLC now owns 16,536 shares of the industrial products company’s stock valued at $4,951,000 after buying an additional 2,584 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of RBC Bearings by 41.6% during the third quarter. Segall Bryant & Hamill LLC now owns 29,715 shares of the industrial products company’s stock valued at $8,896,000 after buying an additional 8,725 shares during the period. Holocene Advisors LP boosted its position in shares of RBC Bearings by 69.4% during the third quarter. Holocene Advisors LP now owns 12,396 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 5,078 shares during the period. State Street Corp boosted its holdings in shares of RBC Bearings by 2.4% in the third quarter. State Street Corp now owns 845,175 shares of the industrial products company’s stock valued at $253,028,000 after purchasing an additional 19,962 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of RBC Bearings by 7.0% in the third quarter. Citigroup Inc. now owns 27,157 shares of the industrial products company’s stock valued at $8,130,000 after purchasing an additional 1,770 shares during the period.

RBC Bearings Stock Performance

Shares of NYSE:RBC opened at $336.36 on Friday. The firm has a 50 day moving average of $338.81 and a 200 day moving average of $316.14. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 46.20, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a quick ratio of 1.18, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. RBC Bearings Incorporated has a 52 week low of $241.43 and a 52 week high of $372.83.

Insider Transactions at RBC Bearings

In other news, Director Michael H. Ambrose sold 400 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $362.89, for a total transaction of $145,156.00. Following the transaction, the director now directly owns 6,728 shares of the company’s stock, valued at approximately $2,441,523.92. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert M. Sullivan sold 8,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $362.25, for a total value of $2,898,000.00. Following the transaction, the chief financial officer now directly owns 11,382 shares in the company, valued at approximately $4,123,129.50. The trade was a 41.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,900 shares of company stock valued at $3,963,031. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on RBC shares. Bank of America lowered RBC Bearings from a “buy” rating to a “neutral” rating and boosted their price target for the company from $330.00 to $335.00 in a report on Thursday, November 21st. KeyCorp boosted their price target on RBC Bearings from $375.00 to $395.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Tuesday, November 26th. Truist Financial boosted their price objective on shares of RBC Bearings from $351.00 to $410.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted their price objective on shares of RBC Bearings from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $361.20.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.